When starting any work with our clients, the first question that comes up is ,"What value is this going to add to my home?" My response is always two part. A. What is this work going to add to your lifestyle and are you considering a project that will make you feel better about your living environment and lifetyle? Or B, Are you just making improvements to consider the street appeal and resale of your property?
If you answered yes to question A, you need to remember that you dont want to overbuild your project. If this is the property you plan on living in and want your family to grow up in, make sure you consider that will the design grow with you. Start with quality design professional. List all your requirements that you want to add to your project and most importantly, keep your budget in mind. Consider a contingency amount ( I suggest 10% of the total project cost) in your design so that as the work begins, you can add luxury items into the project. With most of our clients, we provide allowances for finishes that the client can choose from. Stay within those allowances as close as possible and control the cost of changes orders which add project cost.
And if you are adding to your existing property to consider the resale value and what a project will add to that value, follow these simple guidelines. One of the tools we use is the Qualified Remodelers Cost Vs. Value tool. Remodeler Cost Vs. Value 2011-2012 It is based upon regional data that is compiled for your use. It takes the top 35 projects from across the region and shows the real value of your project and the recoup value for immediate resale.
The second thing to do is consult your local realtor. We work with several realtors who know the value of specific regions throughout the city and county. If need recomendations for a qualified remodeler that is specific to your neighborhood, please contact us and we can refer you.
If you have more questions, please dont hesitate to let us know. We are always here to help.
Chris Babcock
CA Babcock Residential
Charlotte, NC
chris@ca-babcock-residential.com
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